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8 Apr 2013
Forex: GBP/USD hits fresh daily low
FXstreet.com (Córdoba) - As the dollar shrugs off the NFP disappointment reversing losses across the board, GBP/USD continues to recede, having broken below the 1.5300/1.5290 support level to hit fresh lows during the American session.
GBP/USD fell over 100 pips throughout the day and hit a low of 1.5241 before bouncing slightly. At time of writing, the Cable is trading around 1.5260, where it records a 0.5% loss on the day.
On the downside, if GBP/USD falls below 1.5240, next supports are seen at 1.5200 (psychological level) and 1.5140 (20-day SMA), while on the upside, the pair has initial resistance at 1.5290/1.5300 followed by 1.5362 (Apr 5 high) and 1.5400 (psychological level).
GBP/USD fell over 100 pips throughout the day and hit a low of 1.5241 before bouncing slightly. At time of writing, the Cable is trading around 1.5260, where it records a 0.5% loss on the day.
On the downside, if GBP/USD falls below 1.5240, next supports are seen at 1.5200 (psychological level) and 1.5140 (20-day SMA), while on the upside, the pair has initial resistance at 1.5290/1.5300 followed by 1.5362 (Apr 5 high) and 1.5400 (psychological level).